Verastem, Inc. (VSTM) Downgraded by Zacks Investment Research to Sell
Verastem, Inc. (NASDAQ:VSTM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday.
According to Zacks, “Verastem, Inc., a clinical stage biopharmaceutical company, focuses on discovering and developing drugs to improve outcomes for patients with cancer. Its programs target the focal adhesion kinase (FAK) and the phosphoinositide 3-kinase (PI3K)/mTOR signaling pathways. Its lead FAK inhibitor is defactinib (VS-6063), an orally available candidate for combination therapy with immuno-oncology agents and other anti-cancer compounds. The company’s defactinib is in Phase 1b study for the treatment of pancreatic cancer, as well as in Phase 1/2 clinical trial for the treatment of ovarian cancer, non-small cell lung cancer, mesothelioma, and pancreatic cancer. It also engages in developing duvelisib, an investigational oral therapy that targets the PI3K signaling pathway, as well as attacks malignant B-cells and T-cells and disrupt the tumor microenvironment to help thwart their growth and proliferation for patients with lymphatic cancers through the dual inhibition of PI3K delta and gamma. “
VSTM has been the topic of a number of other reports. Cann reissued a “buy” rating and set a $6.00 price objective on shares of Verastem in a research report on Monday, June 26th. HC Wainwright set a $7.00 price objective on shares of Verastem and gave the company a “buy” rating in a research report on Thursday. Cantor Fitzgerald reissued a “hold” rating and set a $2.00 price objective on shares of Verastem in a research report on Thursday, May 11th. Jefferies Group LLC reissued a “hold” rating and set a $1.50 price objective on shares of Verastem in a research report on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. set a $6.00 price objective on shares of Verastem and gave the company a “buy” rating in a research report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $4.61.
Shares of Verastem (NASDAQ VSTM) opened at 3.01 on Friday. Verastem has a 12-month low of $1.05 and a 12-month high of $4.67. The firm’s market capitalization is $111.35 million. The firm has a 50-day moving average of $3.31 and a 200-day moving average of $2.15.
Verastem (NASDAQ:VSTM) last issued its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.34) by $0.02. Equities analysts anticipate that Verastem will post ($1.38) earnings per share for the current year.
In other Verastem news, Director Timothy J. Barberich bought 30,000 shares of Verastem stock in a transaction dated Monday, May 15th. The shares were purchased at an average cost of $2.45 per share, with a total value of $73,500.00. Following the transaction, the director now directly owns 69,462 shares of the company’s stock, valued at $170,181.90. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.00% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. OxFORD Asset Management LLP acquired a new stake in Verastem during the second quarter worth $234,000. Dimensional Fund Advisors LP increased its stake in Verastem by 697.6% in the second quarter. Dimensional Fund Advisors LP now owns 289,828 shares of the biopharmaceutical company’s stock worth $632,000 after buying an additional 253,492 shares in the last quarter. Vanguard Group Inc. increased its stake in Verastem by 10.3% in the second quarter. Vanguard Group Inc. now owns 1,143,642 shares of the biopharmaceutical company’s stock worth $2,493,000 after buying an additional 107,029 shares in the last quarter. Northern Trust Corp increased its stake in Verastem by 40.3% in the second quarter. Northern Trust Corp now owns 73,750 shares of the biopharmaceutical company’s stock worth $160,000 after buying an additional 21,178 shares in the last quarter. Finally, Artal Group S.A. acquired a new stake in Verastem during the second quarter worth $1,090,000. 22.31% of the stock is currently owned by hedge funds and other institutional investors.
Verastem Company Profile
Verastem, Inc is a biopharmaceutical company. The Company is focused on discovering and developing drugs to improve outcomes for patients with cancer. The Company operates in the segment of developing drugs for the treatment of cancer. The Company’s advanced product candidates are VS 6063, VS 4718 and VS 5584.
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